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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of ARRY, FREQ and RKT

Monday, 05 July 2021 05:40 AM

The Klein Law Firm

Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / July 5, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Array Technologies, Inc. (NASDAQ:ARRY)
This lawsuit is on behalf of investors who purchased ARRY: (a) between October 14, 2020, and May 11, 2021, inclusive and (b) pursuant, or traceable, or both, to: (i) the registration statement and prospectus issued in connection with the Company's October 2020 initial public offering; or (ii) the registration statement and prospectus issued in connection with the Company's December 2020 offering; or (iii) any combination of the initial public offering, December 2020 offering, or March 2021 offering.
Lead Plaintiff Deadline: July 13, 2021

Defendants repeatedly and consistently painted a materially misleading picture of the Company's business and prospects that did not reflect rising steel and freight costs. After the October 2020 initial public offering, the December 2020 offering and the March 2021 offering, and subsequent to the class period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook. As a result of Defendants' wrongful acts and omissions and the precipitous decline in the market value of the Company's securities, shareholders have suffered significant losses and damages. 

Learn about your recoverable losses in ARRY: https://www.kleinstocklaw.com/pslra-1/array-technologies-inc-loss-submission-form?id=17377&from=1

Frequency Therapeutics, Inc. (NASDAQ:FREQ)
Class Period: November 16, 2020 - March 22, 2021
Lead Plaintiff Deadline: August 2, 2021

The FREQ lawsuit alleges Frequency Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: the Company's Phase 2a trial results failed to live up to the Company's expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322's potential. These statements materially misled the market and artificially inflated the value of Frequency's common stock.

Learn about your recoverable losses in FREQ: https://www.kleinstocklaw.com/pslra-1/frequency-therapeutics-inc-loss-submission-form?id=17377&from=1

Rocket Companies, Inc. (NYSE:RKT)
Class Period: February 25, 2021 - May 5, 2021
Lead Plaintiff Deadline: August 30, 2021

Rocket Companies, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (a) Rocket's gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket's Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket's gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company's gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket's Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) as a result of the foregoing, defendants' positive statements about the Company's business operations and prospects were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in RKT: https://www.kleinstocklaw.com/pslra-1/rocket-companies-inc-loss-submission-form?id=17377&from=1

The Klein Law Firm, Monday, July 5, 2021, Press release picture

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

Topic:
Lawsuits
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